On Friday, March 20, the U.S. Treasury, IRS, and U.S. Department of Labor announced their plans for making the paid leave provisions in the Families First Coronavirus Response Act (FFCRA) less burdensome for small businesses. Key points include: To take immediate...
OVERVIEW The Tax Cuts and Jobs Act (Act), which was signed into law on Dec. 22, 2017, creates a new business tax credit for eligible employers that provide paid family and medical leave to their employees. The tax credit, which applies to taxable years beginning in...
March 13, 2017 From the Desk of Larry Grudzien Attorney-At-Law Today, the Congressional Budget Office released its estimate of the budgetary effects of the American Health Act. Below is a summary of its findings: The Concurrent Resolution on the Budget for Fiscal Year...
Overview On Nov. 18, 2016, the Internal Revenue Service (IRS) issued Notice 2016-70 to: Extend the due date for furnishing forms under Sections 6055 and 6056 for 2016 for 30 days, from Jan. 31, 2017, to March 2, 2017; and Extend good-faith transition relief from...
Health savings accounts (HSAs) offer many valuable benefits to participants. However, many employees do not fully understand how HSAs work and may be missing out. In fact, it is estimated by the Flexible Benefit Service Corporation that 40-50 percent of HSA-eligible...
